Like most successful US "left" bloggers, Eschaton shamefully ignores Zionist crimes but when it comes to economics, he's pretty on the ball:
All along there's been a failure to really come to terms with the magnitude of the financial disaster and of the culpability of the Very Serious People in charge. In the beginning it was all the fault of poor minorities who used their immense political power to force banksters to give them loans they couldn't afford, then when the crisis really hit it was just a wee 'liquidity' problem which could be easily solved with a couple trillion dollar gift from the Fed.
And we left the people responsible in charge, because, well, nobody could have predicted, without considering the fact that this is what the people in charge will continue to do because this is what they know how to do.
The powers that be thought the economy would turn itself around and some of these problems would evaporate. But it didn't and they didn't and that light at the end of the tunnel no longer appears to be just around the corner.